Daily Current Affairs : 10-December-2024

On December 9, 2024, Prime Minister Narendra Modi launched the Bima Sakhi Yojana in Panipat, Haryana, marking a significant step in the government’s efforts to empower women and promote financial inclusion. This initiative is backed by the Life Insurance Corporation of India (LIC) and aims to train women as LIC agents, fostering financial literacy and awareness about insurance in both rural and urban areas.

Objective and Purpose

The primary goal of the Bima Sakhi Yojana is to economically empower women by providing them with the skills needed to become agents of change in their communities. The program focuses on two key areas:

  • Financial Inclusion: Expanding access to banking and insurance services, especially in underserved regions.
  • Women’s Empowerment: Offering women a chance to build their careers and gain financial independence.
Key Features of the Scheme

The Bima Sakhi Yojana provides several attractive features to support women’s economic empowerment. Some of the main aspects are:

  • Training and Stipend: Women between the ages of 18 to 70 years, with a minimum of a Class X education, are eligible to join the program. They receive specialized training on financial products and insurance. Additionally, they are given a stipend for the first three years to support their learning and work.
  • Employment Opportunities: Once trained, the participants can work as LIC agents. As they gain experience, they can even advance to roles like Development Officers, enhancing their career prospects.
  • Insurance Awareness: The program also works to spread awareness about affordable insurance products and their importance in securing one’s financial future.
  • Sustainable Livelihood: The scheme ensures that women have the chance to earn an income, with trained Bima Sakhis potentially earning ₹1.75 lakh annually on average.
Benefits for Women and Society

The Bima Sakhi Yojana holds significant potential for both individual women and society as a whole:

  • Economic Independence: By becoming financially independent, women can contribute to the household income and improve their quality of life.
  • Social Impact: The scheme helps elevate the role of women in economic activities, particularly in rural and semi-urban areas, thus encouraging social progress.
  • National Vision: This initiative is aligned with India’s broader goal of becoming a developed nation by 2047, where women actively participate in driving the country’s economic growth.
Important Points:
  • Launch: The Bima Sakhi Yojana was launched by Prime Minister Narendra Modi on December 9, 2024, in Panipat, Haryana.
  • Objective: To empower women economically by training them as LIC agents and promoting financial literacy and insurance awareness.
  • Launched By: Life Insurance Corporation of India (LIC).
  • Eligibility:
    • Age: 18-70 years
    • Minimum educational qualification: Class X pass
  • Key Features:
    • Training & Stipend: Women receive specialized training and a stipend for the first three years.
    • Employment Opportunities: Trained women can become LIC agents and advance to roles like Development Officers.
    • Insurance Awareness: Promotes access to affordable insurance products and financial literacy.
    • Economic Independence: Offers a sustainable livelihood, with potential earnings of ₹1.75 lakh annually.
  • Significance:
    • Financial Inclusion: Extends banking and insurance services to underserved communities.
    • Social Impact: Enhances women’s role in economic activities, especially in rural and semi-urban areas.
    • National Vision: Aligns with India’s goal to become a developed nation by 2047 by involving women in economic growth.
Why In News

On December 9, 2024, Prime Minister Narendra Modi launched the Bima Sakhi Yojana in Panipat, Haryana, reinforcing his vision for women empowerment, financial inclusion, and the creation of a more equitable society by providing women with opportunities to actively participate in the economic mainstream.

MCQs about Bima Sakhi Yojana
  1. When was the Bima Sakhi Yojana launched by Prime Minister Narendra Modi?
    A. December 1, 2024
    B. December 9, 2024
    C. November 9, 2024
    D. January 9, 2025
    Correct Answer: B. December 9, 2024
    Explanation: The Bima Sakhi Yojana was launched by Prime Minister Narendra Modi on December 9, 2024, in Panipat, Haryana, to empower women and promote financial inclusion.
  2. What is the primary objective of the Bima Sakhi Yojana?
    A. To provide insurance coverage to women
    B. To train women as LIC agents and promote financial literacy
    C. To offer financial support to small businesses
    D. To create job opportunities in rural areas
    Correct Answer: B. To train women as LIC agents and promote financial literacy
    Explanation: The main goal of the Bima Sakhi Yojana is to economically empower women by training them as LIC agents and promoting financial literacy and insurance awareness.
  3. Which of the following is a feature of the Bima Sakhi Yojana?
    A. Women can work as Development Officers without any training.
    B. Women receive a stipend for the first three years of training.
    C. The program is only available to women aged 40 and above.
    D. There is no focus on insurance literacy in the program.
    Correct Answer: B. Women receive a stipend for the first three years of training.
    Explanation: One of the key features of the Bima Sakhi Yojana is that women receive specialized training and a stipend for the first three years, ensuring financial support as they learn.

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